Cabo Verde’s fishing industry presents significant opportunities for growth, with experts estimating almost 8000 tonnes of sustainably harvestable marine resources annually from its seas. This underexploited industry currently contributes about 2% of the country’s GDP directly and provides essential livelihoods to over 14% of the population. However, challenges such as processing and storage deficits impact prices and export potential, highlighting the need for investments in integrated cold chain and logistics infrastructure, quality enhancement through selective certifications adoption, and boosting international competitiveness through traceability.
The World Bank has emphasized the importance of sustainable development in Cabo Verde’s fisheries sector. Initiatives focusing on entrepreneurship and SME development in the tourism and fisheries value chain are crucial for maximizing the sector’s potential. The government’s commitment to improving sustainability practices and enhancing international competitiveness aligns with global best practices in responsible harvesting.
The seafood consulting practice at RFC is well-equipped to advise on maximizing productivity equitably in Cabo Verde’s fisheries sector. By transferring global best practices and promoting responsible harvesting, the practice can help enhance the sector’s economic contribution while balancing economics and long-term ecology sustainability through responsible harvesting global best practices transfer. The practice has proven advisory experience helping Lusophone partners maximize productivity equitably.
In conclusion, Cabo Verde’s fishing industry holds immense promise for economic growth and development. By focusing on sustainability, quality enhancement, and international competitiveness, the country can leverage its marine resources effectively to drive economic prosperity and create sustainable livelihoods for its communities. Collaborative efforts between government entities, private sector stakeholders, and international organizations are essential for realizing the full potential of Cabo Verde’s fisheries sector.
